Regions Northeast
State Announces $25M in Funds for Building, Refurbishing Affordable Housing
May 8, 2008

New York State's push to increase its pool of affordable housing marches on as Gov. David A. Paterson announces that $25.5 million in grants and financing will be doled out for the renovation of 396 multifamily units in communities across New York City and in the western portion of the state.  Among the properties that will benefit is the 125-unit Caroline Apartments in Manhattan's Inwood neighborhood, which will be submitted to an $18 million upgrade. Approximately $2.6 million will be contributed for the development of 87 co-op units at a mixed-use project in East Harlem, and another $1.6 million will be used to construct a 54-unit condominium project in the Bronx. Residential properties in Brooklyn and Buffalo, as well as Cattaraugus, Wyoming and southern Erie counties will also receive funds for improvements.

 
Recent Northeast Headlines
1250 Broadway Closes with $215M Financing via Carlton
May 16, 2008
The deal for 1250 Broadway in New York City, as previously reported by CPN, has found funding through Carlton Advisory Services, which closed $215 million of acquisition and mezzanine financing for its acquisition, Carlton has announced.
Rudin, St. Vincent’s Hospital May Revamp Greenwich Village Plan
May 16, 2008
New York City is a tough place to build, and no areas are more challenging to developers than the city’s historic neighborhoods, as the experience of the Rudin Organization and St. Vincent’s Hospital Manhattan has just proved again.
GE Finances $67M for Offices
May 16, 2008
GE Real Estate has announced two office financing deals totaling $67 million.
Rebuilding Downtown JPMorgan Chase WTC Development Plans in Doubt
May 15, 2008
Has JPMorgan Chase finally backed off on plans to build an office tower at the World Trade Center site in lower Manhattan?
Adobe to Buy Boston-Area Office Building Upon Completion
May 15, 2008
In a $44.7 million deal, Adobe Systems Inc. has agreed to purchase Overlook Center in Waltham, Mass., from Normandy Real Estate Partners upon its construction.